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Transport
01 July 2005
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Trakia financing waiting for election dust to settle
Bankers are claiming that financing for the Trakia motorway project in Bulgaria could begin in earnest by the end of July. However, the recent national election has made the deal uncertain. The opposition Socialist Party won most of the votes, but not enough to form a government and a coalition is now likely. If this produces a coherent cabinet, the deal could relaunch shortly. But there is also the very real possibility that the preferred-bidder award may be revisited, since it was not openly tendered, and thus has attracted the attention of local competition watchdog CPC.
The project was awarded to Trakia Motorway AD – a Portuguese (51%) and Bulgarian (49%) consortium comprising MSF-Moniz Da Maia, Serra & Fortunato; Lena Engenharia e Construcoes; Somague Itinere; Avtomagistrali and Technoexportstroy. Espirito Santo Investment is financial advisor to the sponsors.
The total cost of construction...
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